There will be no formulas, calculations, or special techniques. Just our behavioral habits.
always spend less than you earn, regardless of your income level; you can’t spend your budget uncontrollably, even if some amount came in unexpectedly;
keep in cash the minimum amounts necessary for personal needs. This is both a safe way to store funds and prevent major unplanned spending.
The more sources of income you have, the better;
diversification of investments; the more options you allocate your assets to, the less risk of losing them overall;
avoid accumulating debts; they tend to accumulate faster than capital, and in principle it is harder to clear them than to build up capital;
strive to switch from active earnings to passive earnings; work is not a panacea for your personal budget, and its returns are usually inversely proportional to age. Passive earning will help you be “on the money” even in old age;
Be well-versed in financial law and the global economy; this is a defense against fraud or prosecution, as well as a foundation of financial knowledge;
never put yourself above others or divide people by their financial condition. When you are successful in managing your personal finances – try to teach it to as many other people as possible. It will help society as a whole.
One of the most common questions: “When should I start investing?”
The answer is, “Yesterday.”
The earlier you start, the more passive income you will have in the future.